Dogecoin price is currently down -34% from its December 8 high of $0.4843. But according to crypto analyst Kevin (@Kev_Capital_TA), DOGE has one of the “better looking” charts right now. in a new is played At X, he provided an in-depth look at Dogecoin, the broader market environment and key technical indicators.
Dogecoin: Price Discovery or Disaster?
Despite the current correction, Kevin believes Dogecoin's chart “looks really nice right now” and looks stronger than many other cryptocurrencies: “It's a stronger coin compared to a lot of markets. I mean, Doge looks really good here. (…) Can it not look good in another week? “Of course it can, but right now it looks really good.”
However, he emphasized the possibility of short-term pullbacks – something that could push Dogecoin down to the $0.026 region: “In the short term, can we go down and test 26 cents? Which I'm going to throw out (…) I don't see any real reason to be bearish (…) But is it possible to come back here? Definitely.”
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The $0.26-$0.28 range emerged as a critical point for Dogecoin's short-term outlook: “As long as we stay above this level of 28-26 cents (…) I see no reason for extreme fear. “If we break that level (…) a loss of $0.26 in weekly packages would be catastrophic.”
Coin followed this particular target in November, when it first suggested that Dogecoin would revisit the gold pocket near $0.26. According to him, many were pessimistic, but the level finally hit: “I took a lot of heat to make the call in early November when we were at 45 cents (…) we finally got down And we tested it.”
On the upside, Kevin identifies a significant resistance area between $0.30 and $0.35, calling it “big, big resistance.” After that, he calls $0.94 to $1.00 as his “next big zone,” though he cautioned traders not to assume a guaranteed upside.
For Dogecoin to break past record highs and truly enter “full price discovery,” Coin wants to see a break above the 0.703 and 0.786 Fibonacci retracements — roughly $0.53 and $0.59 cents: “I don't see anything holding. Dogecoin bounced back from full price discovery (…) we want to break 53 cents (…) and then 0.786 at 59 cents. If we sustainably break through that 60 cent zone, I don't see anything stopping Dogecoin.
By drawing parallels with past market cycles, Coin showed how Dogecoin has historically been examined.Cattle market Support band” and macro support levels before the rally: “We're back, testing the bull market support band (…) in this cycle. This is very similar to (the previous cycle). “You can't deny the similarities.”
He explained how Dogecoin's current chart mirrors its cyclical patterns “almost insanely,” noting breakouts following wedge falls, early rises and retests of macro support: “Crypto has this crazy innate ability to follow the cyclical nature of performance . (…) It's really amazing.”
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Despite Dogecoin's cyclical stability, Coin reminded viewers that external market factors and the performance of Bitcoin (which he called the “market leader”) can always derail patterns: “Obviously, we You need Bitcoin to cooperate. “We cannot have crazy conditions globally.”
Kevin also looked at the DOGE/BTC pair, noting a macro trend line and a golden pocket test: “We have this macro trend line (…) crossed it and re-entered. We are currently at “We are a bullish support band. (…) We came back and tested the macro gold pocket again.”
He stressed that if Dogecoin stays above this area on the DOGE/BTC chart, it should go higher. However, a breakdown can cause trouble: “For example, the 26 cent level (…) if we break down and break (…), it will coincide with the break of the bull market support band and this large gold pocket, then “We can be in very deep positions.”
Coin also explored macroeconomic and geopolitical factors that could affect Dogecoin and the broader crypto space. He argued that President Donald Trump's return to the White House in January is “very bullish” if it leads to improved regulation, less conflict and pro-growth policies: “We're going to have Trump in January, which means That we crypto-friendly government (…) if we can end the war between Ukraine and Russia, it will be bullish for the markets (…) we can get inflation to 2% and then start. Faster reduction of interest rates.
When and how high will DOGE rise again?
From the decline in December to the optimism of the first quarter, Quinn noted how market participants often raise expectations by about a month. He suggested that if January ends on a bumpy note, February may be the point where markets start to really climb: “Everybody thought October was going to be bullish. October was not bullish. November was bullish. Now everyone thinks January will be bullish (…) maybe February will be bullish.”
When pressed for specific price targets, Kevin pointed to several Fibonacci extensions The top indicator of the Pi cycle On the Dogecoin chart: “If we break through the previous highs, the next resistance area will be $0.94-$1.32 (…) If we break above $1.32, the next big resistance area I'm looking at is $2.19. See $2.78.”
However, he clarified that any long-term price predictions are highly dependent on indicators and technical confirmations. He highlighted several monthly indicators – MACD, RSI, Stoch RSI, and Pi Cycle Top – as potential signals to exit positions: “I don't care what the price is at that point (…) once we enter that area . I am removing the profit from the board. “If the monthly indicators start flashing, I'm on my way out.”
At press time, DOGE was trading at $0.32.
Featured image created with DALL.E, chart from TradingView.com
